By Jim Rogers
He’s the swashbuckling international vacationer and mythical investor who made his fortune sooner than he was once 40. Now the bestselling writer of A Bull in China, scorching Commodities, and Adventure Capitalist stocks a heartfelt, essential advisor for his daughters (and all younger traders) to discover luck and happiness. In A reward to My Children, Jim Rogers deals suggestion along with his trademark candor and self belief, yet this time he provides paternal compassion, protectiveness, and love. Rogers unearths the way to study from his triumphs and error with a view to in attaining a wealthy, well-lived lifestyles. For example:
• belief your individual judgment: Rogers sensed China’s precise power long ago within the Nineteen Eighties, at a time while so much analysts have been hugely skeptical of its clients for growth.
• concentrate on what you're keen on: Rogers used to be 5 while he began gathering empty bottles at baseball video games rather than playing.
• Be chronic: Coming to Yale from rural Alabama, and in over his head, Rogers by no means stopped learning and wound up with a scholarship to Oxford.
• See the realm: In 1990, Rogers traveled via six continents through bike, gaining a world viewpoint and studying find out how to overview clients in speedily constructing international locations corresponding to Brazil, Russia, India, and China.
• not anything is basically new: whatever deemed “innovative” or “unprecedented” is mostly simply overhyped, as relating to the web or television, airplanes, and railroads earlier than it
• and never a piece off the topic, and intensely vital: Boys will desire you greater than you’ll desire them!
Wise and hot, obtainable and inspiring, A present to My Children is a brilliant reward for all these simply beginning to put money into their futures.
Read or Download A Gift to My Children: A Father's Lessons for Life and Investing PDF
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Extra resources for A Gift to My Children: A Father's Lessons for Life and Investing
In the startup environment, three of the rules stand out as particularly important: organizing for flexibility, preparing to be wrong, and actively seeking reality. The reason that these three rules are so important is that the type of uncertainty that exists in a startup is different from the type of 46 • Inside the Mind of the Turtles uncertainty that exists in trading. In a startup, the uncertainty is generally informational uncertainty—which comes because entrepreneurs must act within a limited timeframe, and they generally have insufficient resources to explore all potential choices to the degree required to eliminate uncertainty.
Any risk assessment process that fails to include these event-type risks is fatally flawed and incomplete. —Jack D. Schwager, managing director and principal of The Fortune Group, an alternative asset management firm; and author of the bestselling book Market Wizards. Despite its often-negative connotations, savvy investors know that exposure has its benefits, and they will often intentionally use leverage to increase the exposure of their investments. They do this because the more exposure to fluctuations in price an investment has, the greater is the investment’s potential power.
Jerry Parker, a fellow Turtle and the CEO of Chesapeake Capital, a managed futures asset manager with over $1 billion under management 38 • Inside the Mind of the Turtles Take Reasoned Risks Many beginners trade like they are sitting at a Las Vegas blackjack table. They put too much money at risk, and they trade based on hunches, rumors, or someone else’s advice. They take foolish risks. They hope. They pray. Great traders take reasoned risks. A reasoned risk is more like an educated guess than a roll of the dice.
A Gift to My Children: A Father's Lessons for Life and Investing by Jim Rogers